Overview
What is The Fintech Sandbox Inc?
The Fintech Sandbox Inc, located at 50 MILK STREET 15TH FL, Boston, MA 02109, is a nonprofit organization with a mission to foster and promote financial technology innovation and entrepreneurship. They provide educational resources and facilitate a community and platform for startups and data partners, aiming to accelerate and streamline the licensing process. By connecting these entities, The Fintech Sandbox Inc aims to nurture and stimulate the growth of financial technology, ultimately benefiting the broader financial sector. With a dedicated workforce of six individuals, the organization operates on a not-for-profit basis.
Official website here: www.fintechsandbox.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 83% (Three-Star out of Four Star rating)
The Fintech Sandbox Inc has achieved an 83% rating, indicating a solid level of accountability and financial health. This rating is derived entirely from their accountability and finance metrics, highlighting a strong commitment to transparent and responsible management of resources. The organization has successfully maintained a fully independent board, which is a significant strength, as it ensures unbiased governance.
In terms of financial practices, The Fintech Sandbox Inc excels with an impressive program expense ratio of 69.19%, indicating that a large portion of their budget is allocated to their mission-driven activities. Furthermore, they have demonstrated effective asset management with a low liabilities-to-assets ratio of 23.12%, suggesting strong financial stability. Their financial statements are audited, which adds another layer of credibility to their operations.
However, there are some areas noted for improvement, particularly the absence of key policies such as a conflict of interest and whistleblower policy, as well as document retention and destruction guidelines. Addressing these gaps could enhance their governance framework and further boost their rating in the future. Overall, the organization appears to be operating effectively but should focus on improving its policy documentation to strengthen its accountability practices.
This AI summary has been generated from information found on Charity Navigator.
Is The Fintech Sandbox Inc legitimate?
The Fintech Sandbox Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. The Fintech Sandbox Inc submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $624,946
Professional Fundraising Fees: $0
Other Salaries and Wages: $0
For more financial information, click here
Official website here: www.fintechsandbox.org
What is the mission statement of The Fintech Sandbox Inc?
The Fintech Sandbox Inc, as a not-for-profit organization, provides educational resources and facilitates a community and platform to promote and foster financial technology innovation and entrepreneurship on a charitable basis. Their mission involves offering financial data feeds and application programming interfaces for development purposes, and connecting startups with potential data partners to expedite and simplify the licensing process, thereby accelerating the growth of financial technology ventures.
Official website here: www.fintechsandbox.org
Who is the CEO of The Fintech Sandbox Inc?
Kelly Fryer is the Executive Director of The Fintech Sandbox Inc.
Official website here: www.fintechsandbox.org
What is the revenue of The Fintech Sandbox Inc?
The Fintech Sandbox Inc's revenue in 2022 was $1,205,667.
Official website here: www.fintechsandbox.org
Who are the executives of The Fintech Sandbox Inc and what are their salaries?
The average compensation at The Fintech Sandbox Inc during 2022 was $104,158. There are 6 employees at The Fintech Sandbox Inc.
Here are 7 key members and their salaries:
- Compensation: $156,046
- Related: $0
- Other: $0
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- Other: $0
- Compensation: $0
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- Other: $0
- Compensation: $0
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- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
Official website here: www.fintechsandbox.org
Where can I find the form 990 for The Fintech Sandbox Inc?
The Fintech Sandbox Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.fintechsandbox.org
Learn more at the official website: www.fintechsandbox.org
Mission Statement of The Fintech Sandbox Inc
The Fintech Sandbox Inc, as a not-for-profit entity, plays a significant role in fostering and promoting financial technology innovation and entrepreneurship. It accomplishes this mission by providing educational resources and facilitating a community and platform. This community serves as a hub where startups and data partners can connect, collaborate, and accelerate their licensing processes in a streamlined manner. By offering financial data feeds and application programming interfaces for development purposes, The Fintech Sandbox Inc empowers innovators to create and refine their financial technology solutions, thereby contributing to the advancement of the sector as a whole.
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Impact
July, 2024
The Fintech Sandbox Inc's impact can be seen in the facilitation of a community and platform that fosters and promotes financial technology innovation and entrepreneurship. By offering financial data feeds and application programming interfaces for development purposes, they connect startups and data partners to accelerate and streamline the licensing process. This initiative plays a significant role in driving innovation and collaboration within the fintech sector, ultimately contributing to the advancement of financial technology solutions.
This information is meant to be a general summary of The Fintech Sandbox Inc. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2022.
- Gross Receipts: $1,205,667
Assets and Liabilities:
- Total Assets: $606,405
- Total Liabilities: $140,248
- Net Assets: $466,157
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Organization Details
Founding Year
2014
Phone
(617) 863-2325Principal Officer
Kelly Fryer
Main Address
50 MILK STREET 15TH FL, BOSTON, MA, 02109
Website
www.fintechsandbox.orgNTEE Category
Code: S30 - Community improvement
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